US President George W. Bush andhis Russian counterpart Vladimir Putin have pledged to continue bilateral cooperation in the war on terrorism, White House spokesman Scott McCleallan said on Monday.

In a 15-minute telephone call, Bush and Putin stressed the importance of continued US-Russia cooperation in the war on terrorism, McClellan told a news briefing at Bush's ranch in Crawford, Texas.

"The two leaders discussed Iraq, Iran and Afghanistan, and agreed on the need to work together to prevent Iran from developing a nuclear weapons capability, to ensure the success of the electoral process in Afghanistan, and to stabilize Iraq.

"They also discussed the conflict in South Ossetia, Georgia, noting that the situation has calmed down in the last few day," McClellan said.

Putin also told Bush that Russian oil companies are increasing oil production and exports and will continue to do so, said the spokesman.

Putin made the remarks on Russian oil production when world oilprices approach 50 US dollars a barrel.

Source: Xinhua